According to Business Week's 54th Annual Executive Compensation Survey, published this week, the average large company CEO received compensation totaling $8.1 million in 2003, up 9.1% from the previous year." By contrast, in 2003, the average production worker 's annual pay was $26,899, up just 2.1% from 2002 according to the Bureau of Labor Statistics. "The average worker took home $517 in their weekly paycheck in 2003; the average large company CEO took home $155,769 in their weekly pay. If the minimum wage had increased as quickly as CEO pay since 1990, it would today be $15.71 per hour, more than three times the current minimum wage of $5.15 an hour."

* * *

In the United States, wealth is highly concentrated in a relatively few hands. As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.7%. Table 1 and Figure 1 present further details drawn from the careful work of economist Edward N. Wolff at New York University (2010).

* * *

You worried about wealth distribution? The Government is far from perfect, but unregulated "free enterprise" is turning us into a banana republic.

It's worth pointing out that most of those people on the list, given then job titles, were likely management/admin people, not the rank and file staff and or unionized employees. I've worked in county and state government my entire working life, and I've only known administrators to receive these sort of packages- packages usually awarded by a board or something, oft times politically motivated.

RunnerBen saidAccording to Business Week's 54th Annual Executive Compensation Survey, published this week, the average large company CEO received compensation totaling $8.1 million in 2003, up 9.1% from the previous year." By contrast, in 2003, the average production worker 's annual pay was $26,899, up just 2.1% from 2002 according to the Bureau of Labor Statistics. "The average worker took home $517 in their weekly paycheck in 2003; the average large company CEO took home $155,769 in their weekly pay. If the minimum wage had increased as quickly as CEO pay since 1990, it would today be $15.71 per hour, more than three times the current minimum wage of $5.15 an hour."

* * *

In the United States, wealth is highly concentrated in a relatively few hands. As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.7%. Table 1 and Figure 1 present further details drawn from the careful work of economist Edward N. Wolff at New York University (2010).

* * *

You worried about wealth distribution? The Government is far from perfect, but unregulated "free enterprise" is turning us into a banana republic.

RunnerBen saidThe Government is far from perfect, but unregulated "free enterprise" is turning us into a banana republic.

I like how if one questions an absurd pension paid by struggling taxpayers he's all a sudden for overpaid CEO's...

I've blasted overpaid CEO's here like Lloyd from Goldman Sachs who actually BENEFITS from the new financial regulations (as he contributed greatly to this Administration and most likely former, coincidence?) or Dick Fuld from Lehman who gets to keep his assets post collapse.

The overpaid Public Employee and the CEO (those who don't add value) are both crooks and cut from the same cloth.

The only difference is that there are maybe thousands of overpaid CEO's at most, but there are tens of millions of Public Employees pimping the system at the expense of the struggling taxpayer who can't participate in these lucrative pension plans or subsidized health-care.

RunintheCity saidIt's worth pointing out that most of those people on the list, given then job titles, were likely management/admin people, not the rank and file staff and or unionized employees. I've worked in county and state government my entire working life, and I've only known administrators to receive these sort of packages- packages usually awarded by a board or something, oft times politically motivated.

Indeed, a quick 10-second Google search reveals that Anna Martinez was the Library Director. San Diego is a large city, and so is its library system, so being Director would be akin to being CEO of a sizable corporation.

solak saidThe only difference is that there are maybe thousands of overpaid CEO's at most, but there are tens of millions of Public Employees pimping the system at the expense of the struggling taxpayer who can't participate in these lucrative pension plans or subsidized health-care.

Please present your evidence for "tens of millions of Public Employees pimping the system."

The worst examples being touted are local, county or state, not Federal. Do you have any of these in your community? Did you do anything to prevent it? Did you even bother to check what your local officials were making, and what their pensions are?

What impresses me is that these local abuses were going on for many years, even decades. And it wasn't until a Democrat was in the White House, and Democrats controlled the Congress, that suddenly Americans discovered all this. Yet nothing had changed at the local level, when Obama entered the White House.

Manipulation by the right wing, perhaps? A sudden discovery of abuses about which Republicans were silent before? An attempt to smear the Federal government, and Democrats briefly in charge (forgetting for a moment Republican obstructionism that gutted Democrat control), with abuses that are mostly below Federal level, and which Washington cannot police?

But hey, the Beck, Limbaugh, O'Reilly mantra is that Democrats are to blame for everything, and the public is buying it. Just like a small group of RJers here are selling it, good right-wing agents that they are.

And so we see the OP as an attempt to smear Obama, with what is purely a local issue. And to claim that all US government runs like this, so we will be encouraged to vote all Democrats out of office. A typical right-wing ploy, that the weak-minded and poorly-informed will endorse. Well done, Solak -- you have accomplished your mission.

RunintheCity saidIt's worth pointing out that most of those people on the list, given then job titles, were likely management/admin people, not the rank and file staff and or unionized employees. I've worked in county and state government my entire working life, and I've only known administrators to receive these sort of packages- packages usually awarded by a board or something, oft times politically motivated.

Indeed, a quick 10-second Google search reveals that Anna Martinez was the Library Director. San Diego is a large city, and so is its library system, so being Director would be akin to being CEO of a sizable corporation.

So, in other words, this is a fair pension based on her salary and the scope of her duties while in her position, as well as her being smart enough to invest in the optional fund that accrued well over time?

solak is a troll who only posts about public workers that he believes are milking the system. He has refused repeated requests to identify what it is he does for a living or how his retirement will be funded. In general, I think he lives in his mother's basement and she is likely a civil service worker. There may be some Freudian shit in there too.

Christian73 saidI think he lives in his mother's basement and she is likely a civil service worker.

Trite, when incapable of addressing a point, resort to mom jokes.

Then when someone does the same to you, exploit your own mother's death in failed attempts to induce guilt like in this thread, without regards to the fact that the other poster lost an immediate family member as well. Classy.

solak saidThe only difference is that there are maybe thousands of overpaid CEO's at most, but there are tens of millions of Public Employees pimping the system at the expense of the struggling taxpayer who can't participate in these lucrative pension plans or subsidized health-care.

I'd like to see some hard statistics provided by a reliable source to back this statement at all levels of government. Most of the financial abuse reported as of late has been with local governments. Your statement would include public employees of all levels of government, which is clear BS.

Is this the tune you were singing when public employees were paid well below the comparable pay scale for private sector jobs in the 90s? Now that the economy has tanked on the backs of 'struggling taxpayers' who worked with fully paid benefits, including high wages, stock options, free food, fully paid medical benefits, etc, and didn't save for a rainy day, it's all the government employees faults? Oh please, get a life!

Yes, there will always be those in government who don't earn their keep AND as a social service organization, whether you like it or not, the government will continue to employ those who's skill levels make it virtually impossible to be employed in the private sector. At least they're working and not on public assistance providing NO services for their keep.

Also, don't lump all of government into one category any more than you would lump all gays into one category. Oh and having just looked at your empty profile, with no picture, at the ripe age of 20, do your homework before you start making blanket statements.

Christian73 saidI think he lives in his mother's basement and she is likely a civil service worker.

Trite, when incapable of addressing a point, resort to mom jokes.

Then when someone does the same to you, exploit your own mother's death in failed attempts to induce guilt like in this thread, without regards to the fact that the other poster lost an immediate family member as well. Classy.

Oh, and I answered your questions about myself on that thread and other threads as well, but you seem to have selective reading.

But didn't we tell you not to participate in such discussions when you continually bragged of being in the 2nd highest tax bracket with you and your partner making $65k each?

Ignorance is bliss. How's working at your tax-exempt organization? I blush.

Damn. I forgot to predict that you would post the above. And for someone who jumped all over me for misunderstanding my bracket, you also thought I didn't pay taxes because I work at a nonprofit. That's how the conservation started.

Dude - You've got nothing. No analysis, no ideas, no critique and you post stuff that contradicts that you think it means. There is nothing in this article that even comes close to suggesting that Anna Martinez is "fleecing the tax payers."

But then again you don't understand that a teacher's union isn't tax payer funded:

http://www.realjock.com/gayforums/1145940/

And you did tell us what you do for a living, which is attend school full-time and have two part time jobs. Now the question would be: who's paying for your school? Does your university receive federal, state or local money that subsidizes your (and other) students' tuition?

RunintheCity saidIt's worth pointing out that most of those people on the list, given then job titles, were likely management/admin people, not the rank and file staff and or unionized employees. I've worked in county and state government my entire working life, and I've only known administrators to receive these sort of packages- packages usually awarded by a board or something, oft times politically motivated.

Indeed, a quick 10-second Google search reveals that Anna Martinez was the Library Director. San Diego is a large city, and so is its library system, so being Director would be akin to being CEO of a sizable corporation.

So, in other words, this is a fair pension based on her salary and the scope of her duties while in her position, as well as her being smart enough to invest in the optional fund that accrued well over time?

Christian73, I don't believe anyone should draw your above conclusion from what I wrote or from what Kev67 wrote. I merely wanted to make a distinction about administrative/management retirement packages vs what most people might pocket.

For example, in Ohio presently, if you are over 65 and have worked 30+ years in the OPERS state employee retirement system, you will collect about 60% of the average of your 3 highest years of salary. Meaning if during your last 3 years on the job you'd achieve your highest salary and made $50000 all three years...your pension income will be $30000 a year, minus any premiums for health care, taxes, etc. Meaning your retirement is a huge step down from your working salary, which explains why we have many people in my present organization who are approaching 40 years of employment. They can't afford to retire.

Meanwhile, many administrators, VP's, provosts, coaches, etc...are receiving ridiculous golden parachutes and more when they leave.

So I wasn't suggesting that the San Diego librarian mentioned above was being compensated fairly. I don't know enough details to assess that. It's possible she was doing TIAA-Cref system and invested wisely. Although most of the former colleagues I know who took that option and retired since 2000...have had to go back to work due to the losses of then investment income.

RunintheCity saidIt's worth pointing out that most of those people on the list, given then job titles, were likely management/admin people, not the rank and file staff and or unionized employees. I've worked in county and state government my entire working life, and I've only known administrators to receive these sort of packages- packages usually awarded by a board or something, oft times politically motivated.

Indeed, a quick 10-second Google search reveals that Anna Martinez was the Library Director. San Diego is a large city, and so is its library system, so being Director would be akin to being CEO of a sizable corporation.

So, in other words, this is a fair pension based on her salary and the scope of her duties while in her position, as well as her being smart enough to invest in the optional fund that accrued well over time?

Christian73, I don't believe anyone should draw your above conclusion from what I wrote or from what Kev67 wrote. I merely wanted to make a distinction about administrative/management retirement packages vs what most people might pocket.

For example, in Ohio presently, if you are over 65 and have worked 30+ years in the OPERS state employee retirement system, you will collect about 60% of the average of your 3 highest years of salary. Meaning if during your last 3 years on the job you'd achieve your highest salary and made $50000 all three years...your pension income will be $30000 a year, minus any premiums for health care, taxes, etc. Meaning your retirement is a huge step down from your working salary, which explains why we have many people in my present organization who are approaching 40 years of employment. They can't afford to retire.

Meanwhile, many administrators, VP's, provosts, coaches, etc...are receiving ridiculous golden parachutes and more when they leave.

So I wasn't suggesting that the San Diego librarian mentioned above was being compensated fairly. I don't know enough details to assess that. It's possible she was doing TIAA-Cref system and invested wisely. Although most of the former colleagues I know who took that option and retired since 2000...have had to go back to work due to the losses of then investment income.

True. We don't know the details of her package but as someone else noted, she has been running a large library that may have been as large and complex as a small- to mid-sized company. Given that, her compensation may be generous but is not exorbitant - especially when compared to Carly Fiorina or Meg Whitman or any number of other execs.

What a fucking witch hunt. This report is too vague to make an assessment as to whether her retirement compensation is reasonable or not. I say if she has been working as a librarian long enough to go into retirement, let her live the rest of her life in some kind pleasure. I don't know about you guys, but if I had to work as a librarian as long as she did I would probably have scars all over my arms from the lunch time cuttings.